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Indonesia News Portal for Traders | Financial & Business Updates

20 February 2025 03:35  |

Silver Retreats from October Peak on Fed, Trade Uncertainty

Silver prices ticked lower to $32.7 per ounce on Wednesday, retreating from their highest level since October 30, as investors weighed the latest FOMC minutes while global trade uncertainties sustained safe-haven demand for precious metals.

The Federal Reserve’s January meeting minutes signaled that officials want to see further progress on inflation before considering rate cuts, prompting market caution. Adding to concerns, President Donald Trump announced plans to impose 25% tariffs on auto imports, along with similar duties on semiconductors and pharmaceuticals, fueling fears of an escalating trade war.

Meanwhile, investors monitored US-led diplomatic efforts to resolve the war in Ukraine, which could dampen safe-haven demand for silver. Silver reached a three-month high last week, driven by strong industrial demand from electrification and manufacturing. China’s addition of 357 gigawatts of solar and wind power in 2024 highlighted silver’s vital role in renewable energy.

Source : Trading Economics

 

 

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